The Flagstaff Social Security Administration Branch Office is a 7,480 square foot build-to-suit facility that was developed as a new location for SSA in 2011, featuring architectural and construction requirements that meet strict federal government standards. Flagstaff SSA is situated in an essential geographic location and is the only SSA office within a 90-mile driving distance. SSA invested over $475,000 in tenant improvements in this facility, and the property is positioned in an area with high barriers to entry due to the difficulty to develop new commercial real estate within the city limits of Flagstaff.
The Flagstaff SSA office is 100% occupied via a U.S. General Services Administration lease for an original 15-year term with ten years firm, commencing in 2011. The lease is guaranteed by the full faith and credit of the United States of America, which has a credit rating of Aaa from Moody’s Investor Services and offers unrivaled income security. The GSA has a longstanding reputation as a tenant with one of the highest possible renewal probabilities in the commercial real estate industry. Historical data published by the GSA regarding their portfolio of over 8,000 leases nationwide reflects a retention rate which typically exceeds 95%.
Flagstaff SSA is situated in a highly sought-after market area in the western United States, with excellent access to Historic Route 66 and Interstate 17. Flagstaff is the home of Northern Arizona University, a research university with an enrollment of over 30,000 students and a main campus located approximately one-half mile from the subject property. The SSA office is located directly across from a Walmart, and there is a diverse base of commercial businesses and amenities available in the immediate vicinity. Additionally, Flagstaff is one of the most popular retirement locations in the United States, providing continual strong demand for SSA services.